# NON-PREMIUM ENDORSEMENT

**Issued by:** CITY INSURANCE COMPANY
**Policy Number:** HEC 9 82 60 69
**Effective Date and Time of Endorsement:** 5/21/79
**Producer:** Johnson & Higgins

**Named Insured:** International Business Machines Corp., Etal.
**Date Prepared:** 8/6/79
**Policy Expiration:** 5/21/80
**Producer No.: OPC** 50138-081

**ENDORSEMENT TO PRECLUDE PYRAMIDING OF LIMITS**

The limits of liability, for any one accident or occurrence and, where applicable, in the aggregate, as specified in Item 3. "Excess Coverage Afforded by this Policy" on the Declarations Page shall be reduced by the sum of the claims payable under this policy and the claims payable under (The Home Insurance Company's Policy #HEC 9690582). (City Insurance Company's Policy #HEC 9826069). These limits of liability shall be exhausted when the sum of the claims payable under this policy and the claims payable under (The Home Insurance Company's Policy #HEC 9690582) (City Insurance Company's Policy #HEC 9826069) equal the dollar amounts specified in Item 3. "Excess Coverage Afforded by this Policy" on the Declarations Page.

**Signature of Authorized Representative:**